Tai Fook expects Anlifang Holdings (1388.HK), the leading retailer of lingerie products for mainland women, to face the economic downturn optimistically, offering multiple brands to meet diversified customer needs.
Tai Fook maintains an Lifang buy rating with a target price of HK $3.14, or 13.2 times fiscal 2009 earnings, in line with the industry average in the more mature US market.
The stock rose 2.00 per cent to HK $2.04 today.